Platform giant Cofunds has asked fund groups to commit to developing commission-free share classes by November as it moves to align itself with RDR.
In a series of recent briefings, Cofunds told fund providers it wants the new share classes available to the platform by April 2012.
However, Cofunds has so far stopped short of confirming it will strip out its own fee from the new share classes. It is still deciding whether to offer a completely unbundled share class (which will only include the fund group charge), a share class encompassing the fund charge and platform fee, or both options.
Alastair Conway, sales and marketing director at Cofunds, told Investment Week: "We have said for some time we will have an unbundled solution and the key question for that is: 'should our model be factory gate priced, or one that has a rebate attached to it?."
"Fund groups will need to tell us by November. Then by April next year we will want their solution and the new share classes available."
He added the change in pricing model was being done in collaboration with fund groups. "We have had very positive feedback from the groups," he said.
The FSA is still consulting on its final platform charging rules but intimated in last month's policy paper it wants to ban rebates from fund groups to platforms and cash rebates to customers.
Last week, FundsNetwork revealed its rebates from fund managers, putting pressure on peers including Cofunds and Skandia to follow suit.
Cofunds refused to comment on whether it will make its own rebates public. It said it will be giving an update on rebates in the near future.
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